Life insurance policies with small face amounts where the premium may be collected weekly by agents is termed as a(n):
A) credit life insurance.
B) mortgage life insurance.
C) industrial life insurance.
D) special purpose insurance.
E) group life insurance.

Question

Quizplus · Accepted Answer

Industrial life insurance is commonly known as "burial insurance" or "home service life insurance", and is designed to provide a small death benefit, typically in the range of $1,000 to $10,000, to cover funeral and burial expenses. The premiums are usually collected weekly by agents who visit policyholders in their homes or workplaces.

Life Insurance Policies with Small Face Amounts Where the Premium